The world has moved quickly from wonder at the idea of driverless cars to impatient expectation. The Cadillac SRX zipping around a test track in suburban Detroit is flashing a sign: Not so fast. The car can pilot itself at …
By Jay Hancock, KHN Staff Writer Health-law provisions taking effect next year could save U.S. employers billions of dollars in expenses now paid for workers who continue medical coverage after they leave the company, benefits experts say. Insurance marketplaces created …
American International Group Inc. and Brookfield Asset Management Inc. agreed to end a 2009 lawsuit in which Brookfield sought a judge’s ruling that the insurer’s collapse triggered default provisions in interest-rate swaps. Brookfield sued in federal court in Manhattan, alleging …
Medical professional liability insurer ProAssurance Corp. said it is acquiring monoline workers’ compensation insurer Eastern Insurance Holdings Inc. in an all-cash transaction that values Eastern at $24.50 per share. Eastern will become a wholly-owned subsidiary of ProAssurance. The transaction, with …
International specialty property/casualty insurer and reinsurer Bermuda-based Catlin Group Limited announced the establishment of the Catlin Global Reef Record Catlin has sponsored the group’s Seaview Survey for the past two years, a project to determine the state of the world’s …
Smartphone maker BlackBerry has agreed to go private in a $4.7 billion deal led by its biggest shareholder, allowing the on-the-go email pioneer to regroup away from public scrutiny after years of falling fortunes and slumping market share. The $9 …
The massive floods that devastated swaths of southern Alberta in June are estimated to be the costliest natural disaster in Canadian history, with the Insurance Bureau of Canada pegging the property damage at C$1.7 billion (US$1.65 billion). The bureau, which …
Aon Benfield’s annual Evolving Criteria report, which reviews the latest developments in rating agency protocol and impact for the insurance industry in the Asia Pacific region, concludes: “The Asia Pacific insurance markets have slowly recovered from the significant losses they …
Ironshore International has appointed Astrid O’Reilly to write Mergers & Acquisitions (M&A) insurance lines, based in its Singapore office. She will oversee Ironshore’s M&A insurance offerings and services throughout the Asian region. O’Reilly is a corporate lawyer, and was an …
According to a new report from A.M. Best Co., the U.K. non-life insurance sector “faces mounting pressures, ranging from regulatory changes and competitive market conditions to an uncertain economic environment and low investment returns.” “The report entitled, “U.K. Non-Life Insurers …
